Crude oil up 0.4% on firm overseas cues
Crude oil prices for November up by 0.34%
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<a href="http://www.shutterstock.com/pic-33742723/stock-photo-many-barrels-of-oil-on-a-white-background.html?src=4E5JmKDWXyFhy3gm4lyKlQ-1-32" target="_blank">Crude Oil</a> image via Shutterstock
Crude oil futures prices today recovered by 0.4% to Rs 6,527 per barrel as speculators enlarged positions, tracking a firming trend in the Asian region ahead of US stockpiles report.
At the Multi Commodity Exchange, crude oil prices for delivery in October traded Rs 26 or 0.40% higher at Rs 6,527 per barrel, with a business turnover of 1,865 lots.
The crude oil prices for November are also up by Rs 22, or 0.34%, to Rs 6,530 per barrel, with a business volume of 52 lots.
Analysts said the rise in crude futures was attributed to a firming trend in the Asian region as expect a US stockpiles report to show a fall, indicating firm demand in the world's top crude consumer.
Meanwhile, West Texas Intermediate crude prices for October delivery gained 16 cents to $103.29 a barrel in mid-morning trade on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil prices for delivery in October traded Rs 26 or 0.40% higher at Rs 6,527 per barrel, with a business turnover of 1,865 lots.
The crude oil prices for November are also up by Rs 22, or 0.34%, to Rs 6,530 per barrel, with a business volume of 52 lots.
Analysts said the rise in crude futures was attributed to a firming trend in the Asian region as expect a US stockpiles report to show a fall, indicating firm demand in the world's top crude consumer.
Meanwhile, West Texas Intermediate crude prices for October delivery gained 16 cents to $103.29 a barrel in mid-morning trade on the New York Mercantile Exchange.
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First Published: Sep 25 2013 | 12:29 PM IST